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Best answer February 24, 2024
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Hi, @bluesky99. I appreciate the detailed explanation of your concern.
I can help correctly match the $180 downloaded ACH transaction to the $200 open invoices.
Since invoice run #1 has been matched and reconciled, you can adjust the received payments for invoice run #2 and reissue invoice A. For this, receive the payments of invoice run #2 and create a bank deposit for the received payments, adding a negative line item for -$20. Here are the steps to achieve this:
First, receive the payments for the invoices of invoice run #2. I've also added a screenshot below for visual reference.
- Go to the +New button, and select Receive payment.
- Choose the Customer. (In the images after the steps, I've received payments only from one client. Receive payments for each of your clients.)
- Enter the Payment date and choose the appropriate Payment method.
- Select Payments to deposit under the Deposit to drop-down menu.
- Put a checkmark for the five $40 invoices.
- Hit Save and close.
Next, you can then create a bank deposit for the received payments. I've attached a screenshot after the steps.
- Go to the +New icon and select Bank deposit.
- Select the correct Account.
- Choose the date to match the date of the downloaded transaction.
- Put a checkmark on the payments of invoice run #2.
- Scroll down to the Add funds to this deposit section.
- Select the correct details for this entry. Then, add a description indicating it's a refund for invoice run #1. Enter a -$20 amount.
a. I also encourage collaborating with an accountant in choosing the appropriate account for this entry to ensure the accuracy of your financial reports. - Hit Save and close.
Once done, you can match and categorize the deposit transaction. Kindly see the image below for reference.
After you've matched your QBO record with the downloaded transaction, reissue invoice A.
Let me add these articles about running reports in QBO in case you need to run financial reports to check if the changes correctly appear in the appropriate accounts:
Keep us posted if you have updates to matching your invoice payments to the downloaded transaction. We're committed to offering ongoing support. Have a good one!
Hi, @bluesky99. I appreciate the detailed explanation of your concern.
I can help correctly match the $180 downloaded ACH transaction to the $200 open invoices.
Since invoice run #1 has been matched and reconciled, you can adjust the received payments for invoice run #2 and reissue invoice A. For this, receive the payments of invoice run #2 and create a bank deposit for the received payments, adding a negative line item for -$20. Here are the steps to achieve this:
First, receive the payments for the invoices of invoice run #2. I've also added a screenshot below for visual reference.
- Go to the +New button, and select Receive payment.
- Choose the Customer. (In the images after the steps, I've received payments only from one client. Receive payments for each of your clients.)
- Enter the Payment date and choose the appropriate Payment method.
- Select Payments to deposit under the Deposit to drop-down menu.
- Put a checkmark for the five $40 invoices.
- Hit Save and close.
Next, you can then create a bank deposit for the received payments. I've attached a screenshot after the steps.
- Go to the +New icon and select Bank deposit.
- Select the correct Account.
- Choose the date to match the date of the downloaded transaction.
- Put a checkmark on the payments of invoice run #2.
- Scroll down to the Add funds to this deposit section.
- Select the correct details for this entry. Then, add a description indicating it's a refund for invoice run #1. Enter a -$20 amount.
a. I also encourage collaborating with an accountant in choosing the appropriate account for this entry to ensure the accuracy of your financial reports. - Hit Save and close.
Once done, you can match and categorize the deposit transaction. Kindly see the image below for reference.
After you've matched your QBO record with the downloaded transaction, reissue invoice A.
Let me add these articles about running reports in QBO in case you need to run financial reports to check if the changes correctly appear in the appropriate accounts:
Keep us posted if you have updates to matching your invoice payments to the downloaded transaction. We're committed to offering ongoing support. Have a good one!
I appreciate you for clarifying your concern, @bluesky99. I'll give you some options on how to make the necessary corrections and apply the deposits, allowing you to focus on managing your business.
I understand that the initial solution provided by my colleague didn't work out, and I appreciate the action you have taken. Therefore, please proceed with deleting the negative deposit.
Did the refund for Invoice A was generated before matching the deposit on Invoice B?
If that is the case, the system will automatically apply the open credit to any open invoices, provided that the "automatically apply credit" option is enabled under the same customer.
To ensure that invoice B is matched to the $200.00 deposit, follow these steps:
- Go to Customers, select View/Edit for the $180.00 payment.
- Uncheck -$20.00 credit memo if applied.
- Then Save & Close.
Once done, undo or unmatch downloaded transactions, here's how:
- Go to Transactions, then select Bank transactions.
- Select tile for the bank or credit card account you downloaded the transaction from.
- Select the Categorized tab.
- Find the $180.00 transaction to unmatch.
- Select the blue transaction link in the Added or Matched column to see the matched transaction.
- Select Undo from the Action column.
This will disconnect the two transactions. The original downloaded transaction will go back to the For Review tab. Then, categorize and match your online bank transactions to the corresponding invoices.
I've included a few articles that you may read to learn more about managing your transactions in QuickBooks Online:
- Set up bank rules to categorize online banking transactions in QuickBooks Online
- Reconcile an account in QuickBooks Online
Please keep in touch with me if you have further QuickBooks-related concerns apart from bank deposit. I'm always delighted to help.
